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2023-06-30
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No description of principal activities is disclosed
2022-07-01
Sage Accounts Production 21.0 - FRS102_2021
xbrli:pure
xbrli:shares
iso4217:GBP
5374758
2022-07-01
2023-06-30
5374758
2023-06-30
5374758
2022-06-30
5374758
2021-07-01
2022-06-30
5374758
2022-06-30
5374758
core:PlantMachinery
2022-07-01
2023-06-30
5374758
core:FurnitureFittingsToolsEquipment
2022-07-01
2023-06-30
5374758
bus:OrdinaryShareClass1
2022-07-01
2023-06-30
5374758
bus:Director1
2022-07-01
2023-06-30
5374758
core:IntangibleAssetsOtherThanGoodwill
2023-06-30
5374758
core:LandBuildings
core:ShortLeaseholdAssets
2022-06-30
5374758
core:PlantMachinery
2022-06-30
5374758
core:FurnitureFittingsToolsEquipment
2022-06-30
5374758
core:LandBuildings
core:ShortLeaseholdAssets
2023-06-30
5374758
core:PlantMachinery
2023-06-30
5374758
core:FurnitureFittingsToolsEquipment
2023-06-30
5374758
core:WithinOneYear
2023-06-30
5374758
core:WithinOneYear
2022-06-30
5374758
core:ShareCapital
2023-06-30
5374758
core:ShareCapital
2022-06-30
5374758
core:RetainedEarningsAccumulatedLosses
2023-06-30
5374758
core:RetainedEarningsAccumulatedLosses
2022-06-30
5374758
bus:OrdinaryShareClass1
core:ShareCapital
2023-06-30
5374758
bus:OrdinaryShareClass1
core:ShareCapital
2022-06-30
5374758
core:LandBuildings
core:ShortLeaseholdAssets
2022-07-01
2023-06-30
5374758
core:IntangibleAssetsOtherThanGoodwill
2022-06-30
5374758
core:LandBuildings
core:ShortLeaseholdAssets
2022-06-30
5374758
core:FurnitureFittingsToolsEquipment
2022-06-30
5374758
bus:SmallEntities
2022-07-01
2023-06-30
5374758
bus:AuditExempt-NoAccountantsReport
2022-07-01
2023-06-30
5374758
bus:FullAccounts
2022-07-01
2023-06-30
5374758
bus:SmallCompaniesRegimeForAccounts
2022-07-01
2023-06-30
5374758
bus:PrivateLimitedCompanyLtd
2022-07-01
2023-06-30
REGISTRAR
Company registration number:
5374758
Xoptix Limited
Unaudited filleted financial statements
30 June 2023
Xoptix Limited
Contents
Statement of financial position
Notes to the financial statements
Xoptix Limited
Statement of financial position
30 June 2023
|
|
|
2023 |
|
|
|
2022 |
|
|
|
|
Note |
£ |
|
£ |
|
£ |
|
£ |
Fixed assets |
|
|
|
|
|
|
|
|
|
Intangible assets |
|
5 |
30,050 |
|
|
|
30,050 |
|
|
Tangible assets |
|
6 |
6,625 |
|
|
|
11,638 |
|
|
|
|
|
_______ |
|
|
|
_______ |
|
|
|
|
|
|
|
36,675 |
|
|
|
41,688 |
Current assets |
|
|
|
|
|
|
|
|
|
Stocks |
|
|
120,504 |
|
|
|
99,652 |
|
|
Debtors |
|
7 |
266,163 |
|
|
|
82,464 |
|
|
Cash at bank and in hand |
|
|
2,632,153 |
|
|
|
2,360,673 |
|
|
|
|
|
_______ |
|
|
|
_______ |
|
|
|
|
|
3,018,820 |
|
|
|
2,542,789 |
|
|
Creditors: amounts falling due |
|
|
|
|
|
|
|
|
|
within one year |
|
8 |
(
288,603) |
|
|
|
(
230,547) |
|
|
|
|
|
_______ |
|
|
|
_______ |
|
|
Net current assets |
|
|
|
|
2,730,217 |
|
|
|
2,312,242 |
|
|
|
|
|
_______ |
|
|
|
_______ |
Total assets less current liabilities |
|
|
|
|
2,766,892 |
|
|
|
2,353,930 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
_______ |
|
|
|
_______ |
Net assets |
|
|
|
|
2,766,892 |
|
|
|
2,353,930 |
|
|
|
|
|
_______ |
|
|
|
_______ |
|
|
|
|
|
|
|
|
|
|
Capital and reserves |
|
|
|
|
|
|
|
|
|
Called up share capital |
|
9 |
|
|
1,000 |
|
|
|
1,000 |
Profit and loss account |
|
|
|
|
2,765,892 |
|
|
|
2,352,930 |
|
|
|
|
|
_______ |
|
|
|
_______ |
Shareholders funds |
|
|
|
|
2,766,892 |
|
|
|
2,353,930 |
|
|
|
|
|
_______ |
|
|
|
_______ |
|
|
|
|
|
|
|
|
|
|
For the year ending 30 June 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors responsibilities:
-
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
-
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
These financial statements were approved by the
board of directors
and authorised for issue on
13 March 2024
, and are signed on behalf of the board by:
Igors Alferovs
Director
Company registration number:
5374758
Xoptix Limited
Notes to the financial statements
Year ended 30 June 2023
1.
General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 13 Portland Road, Edgbaston, Brimingham, B16 9HN.
2.
Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
3.
Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis.The financial statements are prepared in sterling, which is the functional currency of the entity.The accounts are rounded to the nearest £1.
Turnover
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax.
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Intangible assets
Intangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated amortisation and impairment losses. Any intangible assets carried at a revalued amount, are recorded at the fair value at the date of revaluation, as determined by reference to an active market, less any subsequent accumulated amortisation and subsequent accumulated impairment losses. Intangible assets acquired as part of a business combination are only recognised separately from goodwill when they arise from contractual or other legal rights, are separable, the expected future economic benefits are probable and the cost or value can be measured reliably.
Amortisation
Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:
If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.
Research and development
Research expenditure is written off in the year in which it is incurred. Development expenditure incurred is capitalised as an intangible asset only when all of the following criteria are met: - It is technically feasible to complete the intangible asset so that it will be available for use or sale; - There is the intention to complete the intangible asset and use or sell it; - There is the ability to use or sell the intangible asset; - The use or sale of the intangible asset will generate probable future economic benefits; - There are adequate technical, financial and other resources available to complete the development and to use or sell the intangible asset; and - The expenditure attributable to the intangible asset during its development can be measured reliably. Expenditure that does not meet the above criteria is expensed as incurred.
Tangible assets
tangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated depreciation and impairment losses.
Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
|
|
|
|
|
|
Short leasehold property |
- |
Straight line over the life of the lease |
|
|
Plant and machinery |
- |
25 % |
straight line |
|
Fittings fixtures and equipment |
- |
25 % |
straight line |
|
|
|
|
|
If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stocks to their present location and condition.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised in finance costs in profit or loss in the period in which it arises.
Debtors and creditors receivable/payable within one year
Debtors and creditors with no stated interest rate and receivable and payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.
4.
Employee numbers
The average number of persons employed by the company during the year amounted to
6
(2022:
6
).
5.
Intangible assets
|
|
Other intangible assets |
Total |
|
|
|
|
|
|
£ |
£ |
|
|
|
|
|
Cost |
|
|
|
|
|
|
|
At 1 July 2022 and 30 June 2023 |
30,050 |
30,050 |
|
|
|
|
|
|
_______ |
_______ |
|
|
|
|
|
Amortisation |
|
|
|
|
|
|
|
At 1 July 2022 and 30 June 2023 |
- |
- |
|
|
|
|
|
|
_______ |
_______ |
|
|
|
|
|
Carrying amount |
|
|
|
|
|
|
|
At 30 June 2023 |
30,050 |
30,050 |
|
|
|
|
|
|
_______ |
_______ |
|
|
|
|
|
At 30 June 2022 |
30,050 |
30,050 |
|
|
|
|
|
|
_______ |
_______ |
|
|
|
|
|
|
|
|
|
|
|
|
6.
Tangible assets
|
|
Short leasehold property |
Plant and machinery |
Fixtures, fittings and equipment |
Total |
|
|
|
|
|
£ |
£ |
£ |
£ |
|
|
|
|
Cost |
|
|
|
|
|
|
|
|
At 1 July 2022 |
11,152 |
14,390 |
36,228 |
61,770 |
|
|
|
|
Additions |
- |
- |
1,191 |
1,191 |
|
|
|
|
|
_______ |
_______ |
_______ |
_______ |
|
|
|
|
At 30 June 2023 |
11,152 |
14,390 |
37,419 |
62,961 |
|
|
|
|
|
_______ |
_______ |
_______ |
_______ |
|
|
|
|
Depreciation |
|
|
|
|
|
|
|
|
At 1 July 2022 |
8,924 |
14,390 |
26,818 |
50,132 |
|
|
|
|
Charge for the year |
2,330 |
- |
3,874 |
6,204 |
|
|
|
|
|
_______ |
_______ |
_______ |
_______ |
|
|
|
|
At 30 June 2023 |
11,254 |
14,390 |
30,692 |
56,336 |
|
|
|
|
|
_______ |
_______ |
_______ |
_______ |
|
|
|
|
Carrying amount |
|
|
|
|
|
|
|
|
At 30 June 2023 |
(
102) |
- |
6,727 |
6,625 |
|
|
|
|
|
_______ |
_______ |
_______ |
_______ |
|
|
|
|
At 30 June 2022 |
2,228 |
- |
9,410 |
11,638 |
|
|
|
|
|
_______ |
_______ |
_______ |
_______ |
|
|
|
|
|
|
|
|
|
|
|
|
7.
Debtors
|
|
|
2023 |
2022 |
|
|
|
£ |
£ |
|
Trade debtors |
|
247,179 |
36,811 |
|
Other debtors |
|
18,984 |
45,653 |
|
|
|
_______ |
_______ |
|
|
|
266,163 |
82,464 |
|
|
|
_______ |
_______ |
|
|
|
|
|
8.
Creditors: amounts falling due within one year
|
|
|
2023 |
2022 |
|
|
|
£ |
£ |
|
Trade creditors |
|
143,279 |
103,088 |
|
Corporation tax |
|
126,941 |
109,979 |
|
Social security and other taxes |
|
12,297 |
7,973 |
|
Other creditors |
|
6,086 |
9,507 |
|
|
|
_______ |
_______ |
|
|
|
288,603 |
230,547 |
|
|
|
_______ |
_______ |
|
|
|
|
|
9.
Called up share capital
Issued, called up and fully paid
|
|
|
2023 |
|
|
|
2022 |
|
|
|
|
|
No |
|
£ |
|
No |
|
£ |
|
Ordinary shares shares of £
1.00 each |
|
1,000 |
|
1,000 |
|
1,000 |
|
1,000 |
|
|
|
_______ |
|
_______ |
|
_______ |
|
_______ |
|
|
|
|
|
|
|
|
|
|